Liverpool is a great place to invest in property. The city has experienced a surge in population growth in recent years, and the economy is booming. Property prices are rising, and rental yields are attractive; the city has seen a steady growth in the number of people renting, with the average monthly rent in the city sitting at £1,110 a month. In 2019, Liverpool was ranked as the best UK city for buy-to-let yields, with 5 of the top 10 postcodes for rental yields situated in the city.
Liverpool’s City Plan is focused on creating a vibrant and thriving place for everyone. It outlines that an aim is “to improve the quality and choice of homes available through a mix of new build and refurbishment, which maximises local employment and training opportunities”. The plan also includes investing in infrastructure, creating jobs, and growing the economy, as well as improving access to education, healthcare, and other public services. This means we will see a continued number of new properties coming to the city to keep up with the increased demand. According to CIA Landlords, Liverpool is currently experiencing the worst housing crisis in the UK, with a deficit of nearly a quarter of a million homes. Because of this, there are plans for a £36m brownfield project to add almost 3,000 new homes to the city to try and battle the shortage.
One of the largest investments currently going on in the city, and another reason why Liverpool is the perfect place to put your money, is Liverpool Waters. This is a 30-year project extending to over 2km along the banks of the river Mersey and has outline planning permission for 20 million sq ft of residential floor space. This includes 23,000 apartments and four hotels. The goal is ‘to completely transform the city’s northern docks, creating a sustainable world-class, high-quality, mixed-use waterfront and bringing life back to the historic docklands.’ The project is planned to create at least 17,000 extra full-time jobs and generate £1.3bn in public benefits. Liverpool Waters is one of the largest regeneration projects in Europe, and now is a very exciting time to be a part of it!
The average property price in the city is around £197,000 according to Plumlot, which is over £100,000 cheaper than the average in the rest of the UK. This makes it perfect for investors as prices are low for a lower initial investment, whilst still seeing a strong capital growth and ROI. In the last three years, property prices in Liverpool have risen by a staggering average of 23%, and prices are set to increase further as the government invests in creating a prosperous and sustainable future for Liverpool. Whether you are looking for a long-term investment or a short-term return, investing in property in Liverpool can be a great way to make money.
